Accordingly, 1,123,468,046 PGV shares will be officially offered on the trading floor with the reference price of the first trading session of VND 39,480/share, and Power Generation Corporation 3 - JSC will become an official listed member on the Ho Chi Minh City Stock Exchange.
After nearly 4 years of trading on UPCOM, PGV shares have been approved to be listed on HOSE, marking an important milestone and opening up many new opportunities to bring PGV shares closer to major foreign and domestic investors in order to continue promoting the restructuring process in line with the development strategy of Power Generation Corporation 3 - JSC.
Power Generation Corporation 3 has been established under Decision No. 3025/QD-BCT dated June 1, 2012 of the Ministry of Industry and Trade. After 10 years of development, Power Generation Corporation 3 mainly operates in the fields of power generation, investment in and management of power generation projects, provision of operation and maintenance services for power plants. EVNGENCO3 has constantly developed and become one of the strongest brands in Vietnam's energy industry, always fulfilling its mission of participating in ensuring electricity supply for socio-economic development through safe and reliable operation of power plants. EVNGENCO3 has managed investment in, construction of and put into operation new power plants with a total capacity of about 5,200MW (including power plants of EVN and EVNGENCO3 as project owners). Up to now, the total installed capacity of EVNGENCO3 (including joint stock companies which EVNGENCO3 contributes 30% or more of equity) has reached 6,560MW, equivalent to about 8.6% of the installed capacity of Vietnam's power system.
As a result, in 2021, the electricity production output of the Corporation has reached 29.6 billion kWh, accounting for 11.53% of the electricity output of the whole power system in Vietnam. EVNGENCO3's profit after tax of the whole year of 2021 has achieved VND 2,947 billion, exceeding 125% of the year plan, the financial status of EVNGENCO3 is sound, the debt/equity ratio has reached <3 times.
The listing on HOSE is both a great challenge and an opportunity for EVNGENCO3 to constantly improve its reputation, brand, transparency and efficiency in corporate governance, opening up many opportunities to have closer access to foreign and domestic investors.
EVNGENCO3 determines that in the period 2021-2025 and the following years, the Corporation will vigorously perform digital transformation in governance and administration; further widely applying Industry 4.0 in optimizing the operation and maintenance of power plants in order to improve production and business performance and strive to pay an average dividend of about 10%; comprehensively implementing solutions to ensure a stable and long-term environment for coal-fired power plants; expanding the market of providing operation and maintenance services for power plants; aiming to develop clean energy in the future such as: promoting investment cooperation in power plant projects using LNG as well as purchasing LNG for Phu My power plants at an appropriate time; studying and promoting investment in wind power and hybrid solar power projects (in combination with hydropower) after Master Plan No.8 is approved. With the above plans, in addition to maintaining benefits of current shareholders, the Corporation expects to attract the interest of large investors to complete the task of restructuring and reducing EVN's ownership in EVNGENCO3 according to the approved policy.
The listing of PGV shares on HOSE is expected to bring the Corporation into a new stage of strong, outstanding and sustainable development.
CONTACT INFO:
Power Generation Corporation 3 - JSC
Address: No. 60 - 66 Nguyen Co Thach, Sala Urban Area, Thu Duc City, Ho Chi Minh City
Phone: (84-28) 3636 7449; Fax: (84-28) 3636 7450
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